9M 2021 Earnings Briefing Presentation

9M 2021

Analysts' and Investors' Briefing

November 10, 2021

SMIC 9M 2021 Consolidated Results

• Resilient performance in all core businesses
• Banks continued to drive earnings growth in Q3
• Conservative gearing maintained

			Earnings Mix
SM Investments	9M 2021	Chg
Revenues	289.4	5%		27%
Earnings	27.2	79%
Assets	1,288.1	5%	60%	13%
Net Debt:Total Equity	40 : 60

Figures in PHP B except percentages *Asset growth compares 9M20 21 vs FY20 20

Property

Retail

Banking

Note: Excludes SMIC Parent and other subsidiaries

Retail

• 9% revenue growth in Non-Food
• Cost efficiencies and increased supplier activities in Food
• Net margin expansion
• New channels represent 10.9% of Non-Food sales

SM Retail	Revenue	Chg	NI	Chg
Total Retail	204	.9	-1%	4.8	125%
SM Store	35.4	7%	-1.2	38%
Specialty	42.4	12%	1.9	78%
Food Group	138	.8	-5%	5.0	25%

Figures in PHP B except percentages

Banking - BDO

	BDO
Banking	9M 2021	Chg
Net Income	32.4	95%	▪ Net income returned to pre-pandemic
Net Interest Inc.	97.6	-2%
	levels on resilient core business and
Other Income	44.5	13%
	normalized provisions
Loans	2,310 .4	5%
▪	CASA ratio at 85% on 14% growth in
Deposits	2,734.9	6%
	CASA Deposits
NIM	4.1%
	▪	Asset quality remains stable and NPL
NPL	3.1%
		coverage at 101%
CET 1	13.8%		▪	Capital ratios continue to be strong
CAR	14.9%

Figures in PHP B except percentages

Banking - China Bank

	CHIB
Banking	1H 2021	Chg
Net Income	11.2	35%
Net Interest Inc.	28.2	13%
Other Income	8.4	19%
Gross Loans	612.0	3%
Deposits	849.5	3%
NIM	4.2%
NPL	3.4%
CET 1	14.4%
CAR	15.3%

• Net income growth driven by sustained core business growth with effective cost management
• NPLs at 3.4% and credit buffers increased to provide NPL cover of 106%
• Cost-to-incomeratio improved to 45%
• Capital adequacy strengthened

Figures in PHP B except percentages